Monday, March 16, 2009

2009 sales YTD

Here's a list of everything closed so far in 2009 that I've tracked in the MLS from Santa Monica and from Pacific Palisades below $2M. This is way below the last two years.

Conversely, the low end is selling much better: 22 sales in Palms-Mar Vista closed during the same period, all but 2 for less than $855K.

Address, bed/bath, current price (-% from orig.), orig.list date, sale date, sale price (-% from last list price)

Santa Monica 90405 (south of Pico)

2415 23rd, 3/1.75, $895K (-10%), 11/3/08, 1/6/09, $895K
1732 Bryn Mawr, 4/3, $1,200K (-20%), 6/5/08, 2/12/09, $1,100K (-8%)
1652 Bryn Mawr, 3/3, $1,625K (-19%), 3/20/08, 1/21/09, $1,210K (-26%)

Santa Monica 90403 (Wilshire-Montana)

429 California, 4/3.5, $1,895K, 11/12/08, 1/30/09, $1,880K (-1%)
939 24th, 4/4.5, $2,695K, 10/30/08, 1/21/09, $2,487K (-9%)

Santa Monica 90402 (north of Montana)

557 12th, 6/5.5, $2,786K (-34%), 6/4/07, 2/11/09, $2,786K
473 16th, 4/4.5, $3,995K, 10/2/08, 2/12/09, $3,720K (-7%)

Pacific Palisades 90272 <$2M

680 Bienveneda (photo), 3/2, $1,200K (-23%), 8/6/08, 2/12/09, $1,188K (-1%)
1327 Marinette, 3/2, $1,295K (-13%), 10/23/08, 2/27/09, $1,265.3K (-2%)
1101 El Medio, 3/2.5, $1,600K, 12/11/08, 2/6/09, $1,550K (-3%)
1451 Avenida de Cortez, 4/3, $1,745K, 11/5/08, 2/2/09, $1,665K (-5%)
15923 Northfield, 3/2, $1,770K, 10/24/08, 2/10/09, $1,600K (-10%)

7 comments:

dwr said...

One sale per month NOM, and somewhere right now a realtor is telling a client "Things are heating up as we speak!"

Anonymous said...

Thanks a million Westside for looking up the 2009 sales.

Things are slow. I have a realtor friend that says everything under 1M is selling IF its livable and somewhat nice in the 90405. Used to be a 900-1m got you a scraper only in the zip code.

I think the tight loan standards are really knocking the fat outta the market. You have to be a real buyer now with loads of down payment and varifiable income and assets

Anonymous said...

From Westside's earlier graph you can see there are over 70 listings in the Palisades under $2 milllion. If 5 have sold in the last 2.5 months that's a 35 month supply (70 listings / 2 per month) at the current sales volume. Does anybody know what that figure looked like right before prices collapsed in the inland empire (or other hard hit areas)?

Josh

Westside Bubble said...

Josh, I can quickly give you monthly sales counts for Pacific Palisades <$2M in 2008 (months Jan ... Dec):

1 2 9 9 8 9 9 6 3 5 3 4

It would take longer for 2007 as I didn't record all the final sales data.

Month-end inventory is on the weekly or monthly inventory posts.

Whew - 35 months inventory!

JeffL said...

"I have a realtor friend that says everything under 1M is selling IF its livable and somewhat nice in the 90405."

According to the info, one home sold in 90405 under 1M. Is one sale 'everything'? I would wonder if a person who lies to you is really a 'friend'

Westside Bubble said...

JeffL, I'd add to the one Sunset Park sale: 2421 21st, Looking for Backup at $929K (asking); 1736 Oak, Pending at $990K; and some seven active SFR listings asking $899K to $1M.

These need a post as another indicator.

dwr said...

"JeffL, I'd add to the one Sunset Park sale: 2421 21st, Looking for Backup at $929K (asking); 1736 Oak, Pending at $990K; and some seven active SFR listings asking $899K to $1M."

What exactly does a house going into escrow mean in this market? I'd say almost nothing.